Insider Buying: Mercer International (NASDAQ:MERC) Major Shareholder Buys $47,325.72 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 51,441 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were bought at an average cost of $0.92 per share, with a total value of $47,325.72. Following the purchase, the insider directly owned 1,385,672 shares of the company’s stock, valued at approximately $1,274,818.24. This represents a 3.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Up 6.7%

NASDAQ:MERC opened at $0.64 on Friday. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. The firm has a market cap of $42.97 million, a PE ratio of -0.08 and a beta of 0.52. The company has a 50-day moving average of $0.86 and a 200 day moving average of $1.45. Mercer International Inc. has a 1-year low of $0.58 and a 1-year high of $4.47.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.04). Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The company had revenue of $489.30 million during the quarter, compared to the consensus estimate of $493.00 million. As a group, research analysts anticipate that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on MERC. TD lowered their target price on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Royal Bank Of Canada cut their price objective on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded Mercer International from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Strong Sell” and an average price target of $1.85.

Institutional Investors Weigh In On Mercer International

Several institutional investors have recently bought and sold shares of MERC. Jump Financial LLC raised its stake in Mercer International by 340.6% in the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after purchasing an additional 214,008 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Mercer International during the second quarter worth about $244,000. Gabelli Funds LLC purchased a new position in Mercer International in the 2nd quarter worth approximately $1,804,000. Millennium Management LLC boosted its holdings in shares of Mercer International by 16.1% during the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after purchasing an additional 137,906 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Mercer International by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock worth $1,111,000 after buying an additional 14,603 shares in the last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.

Mercer International Company Profile

Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.

Mercer’s core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.

The company’s facilities are located in British Columbia and the U.S.